Draganfly Completes the Acquisition of Skip Dynamix; Shares up 9.9%
Draganfly (DPRO.CN, DPRO) on Thursday said it closed its acquisition of Skip Dynamix CorporationThe cost of the acquisition is US$7.5 million, consisting of a cash payment of around US$2.5 million paid at closing, US$2.5 million in Draganfly shares at a deemed price of US$6.46 per share, subject to each founder remaining "actively engaged" with Draganfly until at least the first anniversary of closing. It is also offering up to US$2.5 million in earn-out consideration, payable in cash or up to 80% in Draganfly shares at Draganfly's discretion."Skip Dynamix founders Jonathan Baron and Andrew Chapman will continue with the combined business under employment agreements, bringing specialized expertise in fixed-wing sUAS technology," stated the company.Skip Dynamix's fixed-wing platform architecture is now integrated with Draganfly's manufacturing, autonomy, AI, and military systems capabilities, said the company."We are excited to have completed this acquisition and to welcome the Skip Dynamix team to Draganfly," said chief executive Cameron Chell. "This transaction positions us to meet growing global demand for affordable, scalable autonomous systems."Shares of the company were last seen up C$0.79 to C$8.68 on the Canadian Securities Exchange.Price: $8.68, Change: $+0.73, Percent Change: +9.18%
